Buyers Push For Sanctions In Trump Condotel Spat

By Zachary Zagger

Law360, New York (February 10, 2014, 8:05 PM ET) -- A putative class of condominium-hotel buyers is demanding sanctions against celebrity real estate developer Donald J. Trump and his company, purported backers of a never-completed complex, alleging Trump and his company failed to disclose a $5 million insurance policy applicable to their claims, the plaintiffs said in memorandum filed Sunday in Florida federal court.

The plaintiffs' memorandum alleges Trump and his company, The Trump Organization, intentionally did not disclose the insurance policy as part of a nationwide strategy to “reap the benefits of carrying liability insurance...